The newly established IMU Breakout Graduate Fellowships will offer a limited number of grants for excellent students from developing countries. Professional mathematicians are invited to nominate highly motivated and mathematically talented students from developing countries who plan to complete a doctoral degree in a developing country, including their own home country.

Nominees must have a consistently good academic record from the high school level and must be seriously interested in pursuing a career of research and teaching in mathematics. Candidates must be both citizens of and residents in one of the developing countries as defined by IMU. The host institution must be either a recognized university or a research institution in one of the developing countries as defined by IMU. The maximum number of fellowships to be awarded is eight (8) and the maximum duration is five (5) years.

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FIMU was established in 2008 as a US 501 (c)(3) non-profit corporation. Its responsibilities include administering the financial aspects of the funds obtained from US-based foundations, financing IMU prizes. It also administers the contributions of members of the AMS and other donors, directed to foster mathematics research and scholarship in developing countries.